COMPUTER GIANT Dell made a €27.1 million profit last year on the sale of a former factory in Bray, Co Wicklow, according to accounts filed recently by an Irish subsidiary.

The building was sold on January 18th, 2007 after Dell relocated its activities there to its site at Cherrywood in south Co Dublin.

The windfall helped Dell Direct almost quadruple its after-tax profit for the year to the end of February 2nd, 2007, to €35.9 million from €9.1 million.

Based in Cherrywood, Dell Direct provides "data processing services, telemarketing sales, and ancillary post-sales technical support facilities" to its operations in Ireland and the consumer and the small business sector in the UK.

According to the financial statements, the subsidiary is reimbursed costs and receives a commission based on a percentage of the sales value of orders processed in the Irish market and the home and SME sector in the UK.

The accounts show that Dell Direct achieved turnover of €150.2 million last year, down 1.3 per cent on the previous 12 months.

Its operating profit increased to €15.8 million from €11 million in 2006.

The net assets of the company were €75 million at the end of its financial year.

Dell Direct paid €7.1 million in corporate tax last year compared with €1.8 million in 2006.

Its final tax bill was reduced by €443,973 claimed in manufacturing reliefs. These reliefs are due to end in December 2010.

Dell Direct employed 1,569 staff on average last year, down 25 on 2006.

Its total staff costs declined to €85.1 million from €92.1 million a year earlier.

This was mostly due to a temporary suspension of a share-based payments scheme, which saved the company about €4.5 million during the year.

Dell paid €74.6 million in wages and salaries during the period, indicating an average pay of €47,563 for workers.

This was down about €1,000 per employee on the previous 12-month period.

The accounts also show that the Cherrywood-based subsidiary repaid a €3.8 million interest-free loan to its parent group.

According to the accounts, Dell had received just over €13.9 million in grants from IDA Ireland up to February 2nd, 2007.

This money may have to be repaid if it pulls the plug on its Irish subsidiary.

The financial statements indicate that the company received a grant of just under €1.3 million from the IDA in the 12-month period.